Estimate the monthly payment on a $100,000 student loan. Adjust the rate and term below to match your offer.
Estimated monthly payment
$1,110.21
at 6% APR over 10 years
| APR | Monthly Payment | Total Interest |
|---|---|---|
| 4% | $1,012.45 | $21,494.17 |
| 5% | $1,060.66 | $27,278.62 |
| 6% | $1,110.21 | $33,224.60 |
| 7% | $1,161.08 | $39,330.18 |
| 8% | $1,213.28 | $45,593.11 |
| 9% | $1,266.76 | $52,010.93 |
| 10% | $1,321.51 | $58,580.88 |
| 12% | $1,434.71 | $72,165.14 |
The monthly payment uses the standard amortizing loan formula: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the $100,000 principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (years × 12). Each payment covers the interest accrued that month first, with the remainder reducing the principal — so early payments are mostly interest and later payments are mostly principal.